{"data":{"id":"us-ky/krs-95.910","jurisdiction":"us-ky","citation":"KRS 95.910","heading":"Terms, compensation, meetings of board members.","body":"(1) Board members shall serve without compensation, but may be reimbursed for their\nreasonable and necessary expenses out of the earnings of the fund.\n(2) The board shall at its first meeting select one (1) of its number to serve as chairman,\nand such other o fficers as it may deem necessary.  The board may adopt bylaws to\ngovern its internal affairs.  The board may create committees from among its\nmembers to act in the name of the board.\n(3) Except for board members selected pursuant to subsection (7) of KRS 95.905,\nboard members shall be appointed for two (2) year terms.  Initially, however, one\n(1) of the two (2) members appointed pursuant to each of subsections (2), (3), (4),\nand (5) of KRS 95.905 shall be appointed for one (1) year.  Subsequent\nappointments pursuant to these subsections shall be for two (2) years.  Board\nmembers may be reappointed.\n(4) In the event of a vacancy on the board, an appointment shall be made for the\nremainder of the unexpired term by the entity making the original appointment.\nWithdrawal of all assets by a participant shall cause any board member representing\nthat participant to vacate his seat on the board.\n(5) There shall be regularly scheduled periodic meetings of the board and the schedule\nshall be adopted in the bylaws.  The chairman may call special meetings at times\nother than those adopted in the bylaws.  In the absence of a call by the chairman,\ntwenty-five percent (25%) of the membership of the board may call a special\nmeeting.  All board members shall be notified by mail of each meeting at least one\n(1) week prior to the meeting.\n(6) No board member shall participate in any decision if he is in a position to benefit\nsubstantially from that decision.  Substantial benefit shall not mean benefit derived\nthrough status as a beneficiary.\n(7) Any board member convicted of a felony shall be removed from the board\nautomatically upon his conviction.","path":["KRS Chapter 95"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26115","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:56Z","sha256":"a116a1adcb1f9aff9bb686e5eeefbef4859d5574d6dc71526515b792ec568e55","source_id":"us-ky","stale":false,"prev":"us-ky/krs-95.905","next":"us-ky/krs-95.915"},"notice":"GroundRules: Original legal text. Not legal advice."}